THE Federal Government’s deficit spending surged by 28 per cent, Year-On-Year to N12.1 trillion in the first ten months of 2024. An analysis of data in the Central Bank of Nigeria, CBN, Monthly Economic Reports, showed that the increase was from N9.8 trillion recorded in the same period of 2023. This further revealed that the Federal Government, in the first ten months, surpassed its Budget 2024 deficit target of N9.8 trillion by 31 per cent. The increase in deficit spending was in spite of a 36 per cent YoY increase in FG’s revenue during the period. An analysis of the…
Author: Hamza Rufai
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THE Nigerian National Petroleum Company Limited (NNPCL) has extended an invitation to former President Olusegun Obasanjo for a tour of the Port Harcourt Refinery to verify its operational status. This development follows Obasanjo’s recent interview with Channels Television, where he cited advice from Shell Petroleum Development Company (SPDC) suggesting the refinery would not function effectively. According to the former president, SPDC, which was approached to acquire equity in the refinery, expressed concerns about corruption impeding its operations. Obasanjo further alleged that NNPCL has been misleading Nigerians about the refinery’s functionality. Responding to the claims, NNPCL’s Chief Corporate Communications Officer, Mr.…
BABAFEMI Ojudu, former Special Adviser on Political Matters to ex-President Muhammadu Buhari, has revealed how he and other allies convinced President Bola Tinubu to reject an offer to serve as Minister of Finance under the late President Umaru Yar’Adua. Ojudu disclosed this during an appearance on State Affairs, a podcast hosted by Edmund Obilo, on Monday. He noted that accepting the role would have posed significant political risks for Tinubu, who was then the leader of the Action Congress. “Tinubu called me one day and said, ‘Congratulations to me.’ I asked, ‘Congratulations for what?’ He then told me that former…
A FEDERAL High Court in Abuja has granted an application filed by the Defence Intelligence Agency (DIA) to detain Alhaji Bello Bodejo, President, Miyetti Allah Kautal Hore, and six others for 60 days pending the conclusion of investigation. Justice Emeka Nwite gave the order following an ex-parte motion moved by counsel to the DIA, I.O. Odom, seeking the order to detain the seven respondents for the period in the first instance. The News Agency of Nigeria (NAN) reports that the DIA, in the motion ex-parte marked: FHC/ABJ/CS/1875/V/2024 had sued Bodejo, Suleiman Abba, Umar Jibrin, Umar Bello, Muhammed Ayuba, Jibrin Baba…
PRESIDENT Bola Tinubu, former President Olusegun Obasanjo alongside other world leaders, on Monday, paid glowing tributes to former US President Jimmy Carter, who passed away on Sunday at the age of 100. Tinubu described Carter as a beacon of humanity whose post-presidential life exemplified leadership and service to global causes. In a statement signed by his Special Adviser on Information and Strategy, Bayo Onanuga, Tinubu extended heartfelt condolences to the United States, praising Carter’s legacy in peacebuilding, disease eradication, and the promotion of democracy. “President Carter showed us all how to remain relevant and impactful after leaving office. He tackled…
DETAILS about how the National Assembly plans to pass the proposed N49.7 trillion 2025 Appropriation Bill have emerged. According to the legislative timeline, the joint National Assembly Committee on Appropriations will lay its report on the budget on Friday, 31 January 2025, setting the stage for its anticipated passage in early February. The National Assembly’s timetable noted that Ministries, Departments, and Agencies (MDAs) are expected to defend their allocations before the relevant committees starting Monday, 7 January 2025. A memo obtained by our correspondent in Abuja revealed that the Senate Committees on Appropriations and Finance will meet with key government…
KWANKWASO former governor of Kano State, Senator Rabiu Musa Kwankwaso, has refuted rumours circulating recently that he reached an agreement with opposition presidential candidates Atiku Abubakar of the Peoples Democratic Party (PDP) and Peter Obi of the Labour Party (LP), to share power by alternating terms. In an interview with the BBC, Kwankwaso, who was the presidential candidate of the New Nigeria People’s Party (NNPP), said he was unaware of such claim but had heard reports that Atiku’s camp had been meeting with regional leaders, including clerics, to propagate the narrative. He stated, “This issue deeply angers me—to hear that…
THE House of Representatives is considering a bill to separate the offices of the Attorney General of the Federation from that of the Minister of Justice. Offices of the Attorney General of a state will also be separated from the Commissioner of Justice if the bill sales through. The bill, co-sponsored by two Peoples Democratic Party lawmakers, Mansur Soro (Darazo/Ganjuwa Federal Constituency, Bauchi State) and Oluwole Oke (Osun) is receiving legislative input from the House Committee on Constitution Review, chaired by the Deputy Speaker, Benjamin Kalu. The bill is seeking alteration to Section 150 of the 1999 Constitution (as amended)…
THE Nigerian National Petroleum Company Limited (NNPCL) has said that President Bola Tinubu does not interfere in the operations of the national oil company neither does he influence movements within it. NNPCL equally said “employment, promotions, appointments, and movements of business leaders at the NNPC are not influenced by ethnicity, tribe, religion, or political affiliation.” Chief Corporate Communications Officer of the NNPCL, Olufemi Soneye, stated these in a statement on Saturday in response to the article, “Tinubu’s Buharisation of the NNPC” authored by Prof. Farooq Kperogi. According to him, decisions within the NNPCL “are guided strictly by merit, business requirements,…
NIGER Republic’s President Abdourahmane Tchiani is facing a backlash of criticism from his fellow countrymen following his recent allegation of a conspiracy by Nigeria against his country. Tchiani in a Christmas Day interview claimed, among other things, that Nigeria had provided a base for French soldiers near Lake Chad had established training camps for terrorists in Sokoto, Zamfara and Kebbi states, all aimed at destabilising Niger. The Federal Government has dismissed the allegations as baseless, with National Security Adviser Nuhu Ribadu and Special Adviser to the President on Policy Communication, Daniel Bwala, being the latest government official to debunk the…
BAUCHI State Governor, Bala Mohammed has approved the appointment of Aminu Hammayo as the new Secretary to the State Government (SSG). Hammayo’s appointment followed the sudden resignation of the former SSG, Ibrahim Kashim, who is a close political associate of Governor Mohammed. The new SSG served at different positions under previous Bauchi governors and contested for the office of the governor in 2011. He once served as Commissioner for Budget, Economic Planning and Multilateral Coordination for the past four years under Governor Mohammed. Special Adviser to the Governor on Media and Publicity, Mukhtar Gidado disclosed this in a statement made…
THE Federal Government has strongly rejected allegations made in a viral video by the military leader of Niger Republic, General Abdourahamane Tchiani, claiming non-existent collusion between Nigeria and France to destabilise his country. The Federal Government also said Nigeria remained committed to fostering regional stability and will continue to lead efforts to address terrorism and other transnational challenges. A statement issued on Thursday by the Minister of Information and National Orientation, Mohammed Idris, urged Niger to focus on constructive dialogue and collaboration rather than peddling baseless accusations. The statement read in full: “These claims exist solely in the realm of…
PRESIDENT of Dangote Industries Limited, Aliko Dangote, has clarified that the recent reduction in the price of Premium Motor Spirit, commonly known as petrol, to N899.50 per litre at its loading gantry was primarily driven by the complex dynamics of market forces. He also said it is his responsibility to safeguard both the interests and the investments of the multibillion dollar company. The business tycoon made these statements during an interview in an Arise TV documentary posted on YouTube and obtained by our correspondent on Wednesday. He said, “The price reduction is a response to the market, let me just…
PROFESSOR Saleh Usman, the executive Chairman, National Hajj Commission of Nigeria, NAHCON, has approved the appointment of Alidu Shutti as the acting Secretary of the commission with immediate effect. The commission’s Assistant Director, Information and Publications Division, Fatima Sanda-Usara, made this known in a statement on Wednesday in Abuja. She explained that the appointment of Shutti followed the voluntary retirement of the former Secretary of NAHCON, Dr Abdullahi Kontagora, on Dec. 6. Mrs Sanda-Usara stated that before his new appointment, Shutti was the Director, Inspectorate and Compliance in the commission since 2023. She said that Shutti would hold the acting…
THE Federal Government has earmarked over N780m for prosecuting terrorism-related cases, anti-money laundering initiatives, and other criminal matters in 2025. According to the 2025 Appropriation Bill, N530m has been allocated for the management of terrorism-related cases and issues, and N2bn for the purchase of vehicles for Senior Special Assistants. Additionally, N100.99m will be directed toward anti-money laundering and counter-terrorism financing measures, while N150m has been set aside for the prosecution of criminal and related matters. These allocations were listed under the Ministry of Justice. The ministry also plans to establish a National Crime Database, with N50m allocated for this initiative.…
NNPC Limited has reduced the pump price of petrol at its retail outlets in Abuja to N965 per litre from N1,030 per litre. This marks the second price cut by the Nigerian National Petroleum Company within two weeks, following a reduction from N1,060 to N1,030 per litre. Checks by this newspaper on Monday revealed that the Nigerian National Petroleum Company Limited effected the new price across its retail outlets in the capital city, to the delight of customers. The new amount is the second price drop in less than two weeks from N1,060 earlier this month. At its mega station…
NO fewer than 10 federal ministries and agencies under their purview got over N1tn each as appropriation in the 2025 budget, this newspaper analysis has shown. A breakdown of the proposed allocation, contained in the 2025 Appropriation Bill presented to the National Assembly, showed that the ministries include Police Affairs, Interior, Defence, Finance, Power, Works, and Budget and Economic planning. Others are the ministries of Niger Delta, Education, and Health. The proposed budget showed that the finance ministry got the highest allocation of N17.52tn. Majority of this is for salary payment. The amount is an increase of 87.78 per cent…
THE Federal Government has allocated a sum of N27bn for the entitlements of former presidents, vice-presidents, heads of state, chiefs of staff, retired heads of service, and professors in the 2025 fiscal year, investigations by Saturday PUNCH have revealed. Beneficiaries of this allocation include former Presidents Olusegun Obasanjo, Goodluck Jonathan, and Muhammadu Buhari, alongside ex-vice-presidents Atiku Abubakar, Namadi Sambo, and Prof. Yemi Osinbajo. Others expected to benefit are ex-military Heads of State, Gen. Yakubu Gowon (retd.) and Gen. Abdulsalami Abubakar (retd.), as well as former military President, Ibrahim Babangida and retired Chief of General Staff, Commodore Ebitu Ukiwe. President Bola…
THE Securities and Exchange Commission has directed all publicly listed companies to publish their financial statements on their official websites from January 2025. According to the Commission, the directive aims to ensure seamless public access to financial information, which is critical for making sound investment decisions. A circular issued on Friday emphasised the importance of transparency and timely disclosure. SEC warned that non-compliance with the directive would attract sanctions. The circular stated, “The Securities and Exchange Commission has observed that public companies file their periodic returns with the Commission and relevant securities exchanges without simultaneously publishing them on their websites.…
GARBA Shehu, a spokesperson for ex-President Muhammadu Buhari, has addressed the ongoing buzz surrounding the seizure of a plot of land in Abuja supposedly owned by the ex-president. This newspaper had reported how the FCT Minister, Nyesom Wike, revoked 762 Certificates of Occupancy (C-of-O) in the highbrow Maitama district of Abuja over non-payment of statutory fees. Ex-President Buhari’s Trust Foundation; former Chief Justice of Nigeria (CJN), Walter Onnoghen; Speaker of the house of representatives, Abbas Tajudeen; Secretary to the government of the federation (SGF), George Akume, his wife, Regina; and Uba Sani, governor of Kaduna are among those impacted by…